Auditing and Assurance Services (16th Edition)
Auditing and Assurance Services (16th Edition)
16th Edition
ISBN: 9780134065823
Author: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
Publisher: PEARSON
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Chapter 5, Problem 27C

Part 1.

To determine

Provide reasons for the conclusions stated.

Part 2.

To determine

Provide reasons for the conclusions stated.

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Consider section 24 of the Securities Act of 1933 and section 32 of the Securities Exchange Act of 1934 (see Module C). Based on the case information, do you believe that Madoff’s auditor, Friehling, should be facing criminal charges? Why or why not?
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